Sales and Trading Job Losses Expected At Deutsche Bank
Traders Magazine, November 2004
Analysts expect layoffs in Deutsche Bank's equities sales and trading arm in the wake of a major restructuring. The large bank, as part of a broader revamp, folded its equities businesses into the group responsible for sales and trading of fixed income securities, foreign exchange and commodities. The consolidation is expected to save the bank e500 million per year. "We see potential for cost reduction as a result of closer integration between those two areas," states J.P. Morgan Securities analyst Kian Abouhossein. "A material part of the restructuring burden will fall onto the equity sales and trading franchise."
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